Magnesium phosphate cement (MPC) is a kind of cementitious material, which involves both acid-base and hydration reactions between MgO and phosphoric acid or water-soluble acid phosphates. It has some application prospects in various fields due to its properties of both cement and ceramic. This paper analyzed the major advances in MPC for last two decades, including the preparation technologies, hydration and hardening mechanism, and material performance of MPC. The application of MPC for structure repair and strengthening, protective coatings, hazardous and radioactive waste immobilization, and dental and prosthetic cements was represented. In addition, some problems and applications of MPC were also discussed.